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Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heavily in terms of freight rates. Yesterday, the BDI was up by 9 points to 743, with Panamaxes posting an increase of 35 points to 717 (Baltic Panamax Index), which was enough to push the market higher, as all other subsectors were mostly unchanged. According to a recent note from analysts Commodore Research & Consultancy, "Chinese demand for imported thermal coal has started the week at an extremely robust level and is poised to stay strong during the remainder of this week. 8 vessels were chartered to haul thermal coal cargoes to China on Monday (including 7 panamax vessels). This was a huge amount for a single day's worth of chartering activity.
During times of moderate demand, an average of 3 vessels are normally chartered to haul thermal coal cargoes to China each day. Demand is poised to stay robust throughout this week and into next week due to low Chinese coal port stockpiles and intensifying winter electricity demand. Coal stockpiles at Qinhuangdao (China's largest coal port) have fallen to 6.1 million tons. This is well below the crucial 7mt level that officials strive to maintain at all Coal stockpiles at Qinhuangdao times (Qinhuangdao is of great importance to Chinese officials, as it is the loading have fallen to 6.1mt, which is port for approximately 40% of China's coastal coal shipments)" said the analyst.
Still, according to Commodore, panamax rates aren't expected to find significant support in the near term. "We continue to anticipate that newbuilding deliveries will be very high this month. Dry bulk fleet growth traditionally surges every January, as owners normally delay a large amount of December deliveries to be delivered one month later in January. Delaying December deliveries allows owners to receive vessels that will be viewed as being a year younger. A year ago, for example, saw 19 panamax vessels delivered in December 2011 and then 39 delivered in January 2012. Delaying delivery just one month allowed owners to obtain a 2012-built vessel, rather than a 2011-built vessel. We strongly believe this trend will continue this year, which makes it unlikely that panamax rates will find significant support in the near term (the panamax market is currently the most oversupplied dry bulk vessel class and we expect it will remain so during all of 2013). The surge in Chinese thermal coal demand, however, is a positive sign regarding the Chinese economy and the Asian thermal coal market" it concluded.
In a separate note yesterday, shipbroker Fearnleys noted on the Panamax market that "some glimmers of hope mid-week with more cargoes entering the market, especially in the Atlantic. Some owners with ships able to breach IWL are able to get a premium for prompt cargoes, but regular Tarvs are now being fixed at around USD 6500 while fhauls with Continent delivery will fetch around USD 13-14k. In the Pacific we see rates at around USD 3-4k for round trips, more cargoes however will the number of ships absorb these cargoes? The period market has been somewhat more active beginning 2013 with a 2-year deals being done at USD 6.5 for an older vessel and around USD 7500 achievable for LME´s" it said.
In the Capesize market, Fearnleys said that "the past week has seen gradual increases in rates across all fronts in the Cape sector, both on the physical and paper side. Strong volume has come out of West Australia, causing rates to climb from USD 7 to 7.20 pmt, with prompt tonnage booked closer to the USD 8 pmt mark. However, at the time of writing, caution is being exercised in light of the approaching cyclone off the West Australia coast, and it remains to be seen whether this will put downward pressure on rates or not. Whilst Vale remains quiet, sentiment has slightly improved on fhaul, with better rates achieved for Tubarao/China (around 17.5 USD pmt). Similarly, slightly firmer numbers are being discussed for period business, with USD 8500 being done for 5-8 months, and a healthier USD 10,750 rate achieved for 9-13 months" the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
Thursday, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
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- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- MS Steel International - UAE
- Central Electricity Authority - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
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